MF Global Inc. Trustee Earns Nod To Process 7,000 Claims

Law360, New York (October 11, 2012, 5:20 PM EDT) -- A New York bankruptcy judge approved procedures Thursday to let the trustee liquidating MF Global Holdings Ltd.'s broker-dealer unit MF Global Inc. handle nearly 7,000 creditor claims filed against it for more than $22.7 billion and reduce costs to the MFGI estate.

U.S. Bankruptcy Judge Martin Glenn approved the uncontested motion during a 10-minute hearing, freeing Securities Investor Protection Act trustee James W. Giddens to begin objecting to or settling the 6,669 general creditor claims filed against MFGI without further court approval.

“The approval of the...
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